Worldpay Floats Largest London IPO Of The Year
Worldpay has made its debut on the London Stock Exchange in what is the U.K.’s largest IPO of the year. The payments processing firm is looking at a market cap of £4.8 billion ($7.3 billion) on £2.40 a share ($3.66). That puts Worldpay’s share price squarely in the middle of its initial £2.25 to £2.60 range.
“We have already invested over £1 billion in our technology, people and capabilities, helping us to become an advanced and sophisticated technology-led organization with great potential.”
Worldpay processes around £370 billion ($564 billion) in payments each year, from about 400,000 merchants. It also handles about 40 percent of European Web transactions. The firm brought in a profit of £765 million ($1.2 billion) on revenues of £3.6 billion ($5.5 billion). In the first half of 2015, sales were up 13 percent.
Advertisement: Scroll to Continue
To check out what else is HOT in the world of payments, click here.
